Pound Sterling drops after mixed UK retail sales, risk aversion

The Pound Sterling tumbles against the US Dollar during the mid-North American session after a volatile trading day due to an escalation of the Israel-Iran conflict. Major central bank speakers led by the Bank of England (BoE) and the Federal Reserve (Fed), continued to set the tone for the financial markets. The GBP/USD trades at 1.2376, down 0.48%. Read More…

The Pound Sterling (GBP) finds a temporary support near almost five-month low around 1.2400 against the US Dollar in Friday’s early American session. The US Dollar Index (DXY) struggles to sustain above the crucial support of 106.00 despite Federal Reserve (Fed) policymakers maintaining hawkish guidance on interest rates. Read More…

The GBP/USD pair remains on the defensive near 1.2430 during the early Asian session on Friday. The downtick of the major pair is backed by the stronger US Dollar (USD) as the strong US economic data and hawkish remarks from the Federal Reserve (Fed) officials have triggered the speculation that the US central bank will delay interest rate cuts to September. Read More…